Bangladesh Bank welcomed a distinguished economist at its helm of research and macro-policy with the appointment of Professor Dr. Akhtar Hossain as its Chief Economist, effective from 1 July 2025. A global expert in central banking and macroeconomic policy, Dr. Hossain brings with him a career spanning over four decades, with significant academic and policy contributions across Asia, Australia, Europe, and North America.
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Early Life and Education: A Brilliant Academic Beginning
Dr. Akhand Mohammad Akhtar Hossain’s journey began in Madaripur, where he completed his SSC (1970) and HSC (1972) with First Division from Kaliganj High School and Madaripur Government College (formerly Nazimuddin College). His higher studies took shape at Jahangirnagar University, where he stood first in both B.Sc. (Honours) and M.Sc. in Economics in 1978 and 1980, respectively.
In pursuit of deeper academic inquiry, Dr. Hossain moved to Melbourne, Australia, supported by scholarships from the University of Melbourne and La Trobe University, where he earned his MA (Honours) and PhD in Economics. His doctoral thesis on Bangladesh’s macroeconomy earned the prestigious La Trobe University Medal and was later published as a book by Oxford University Press.
A Distinguished Global Academic and Policy Career
Dr. Hossain began his professional career in 1981 as a Lecturer at Jahangirnagar University. Following his PhD, he joined the University of Newcastle, Australia, in 1989 and served for over 30 years, retiring as an Associate Professor of Economics in 2020. His teaching and research were always interconnected, with a sustained focus on macroeconomic policy, monetary policy, and central banking, particularly in Bangladesh and the broader Asia-Pacific region.
Dr. Hossain’s academic influence is truly global. He has held visiting professor/scholar positions at prestigious institutions such as:
- University of Illinois at Urbana-Champaign
- Stanford University
- University of Melbourne
- University of Malaya
- Delhi University
- University of Tasmania
- University of Kent
In parallel, Dr. Hossain worked with global institutions like the World Bank, IMF, and central banks in Indonesia, Thailand, and Bangladesh. Notably, he served as a Resident Economic Advisor at Bangladesh Bank in 2004, leading several training programs and initiating research seminars on macro-monetary policy.
Scholarship and Thought Leadership
Dr. Hossain’s scholarly work reflects intellectual depth and policy relevance. He has authored:
- 87 peer-reviewed journal articles
- 27 book chapters
- Four reference textbooks on macroeconomic and monetary issues
- Three Bangladesh-focused books, published by Oxford University Press, Sage Publications, and University Press Limited.
His most influential research monographs include:
- Central Banking and Monetary Policy in the Asia-Pacific (Edward Elgar, 2009)
- Macroeconomic and Monetary Policy Issues in Indonesia (Routledge, 2012)
- The Evolution of Central Banking in the Asia-Pacific (Edward Elgar, 2015)
- Central Banking in Muslim-Majority Countries (Edward Elgar, 2015)
His upcoming work, Money and Monetary Policy for Price Stability in the Asia-Pacific, is under contract with Palgrave Macmillan.
A Strategic Appointment: Chief Economist of Bangladesh Bank
At a time when Bangladesh’s economy faces complex macro-financial challenges — from inflation management to external balance realignments — Dr. Hossain’s appointment as Chief Economist of Bangladesh Bank signals a strategic shift toward evidence-based policymaking. His role will be crucial in strengthening the Chief Economist’s Unit, promoting policy-oriented research, and guiding monetary policy development aligned with regional and global trends.
Mentorship and Legacy
In addition to his academic research, Dr. Hossain has been a passionate mentor. He has supervised five PhD students from Bangladesh, China, Indonesia, Pakistan, and Thailand, and supported numerous honours students in economics.
Personal Ethos and Vision
Dr. Hossain is married to Nilufar Yasmin Hossain, and the couple has four children, all professionals in diverse fields. A product of conservative, land-owning Muslim families, Dr. Hossain describes himself as socially and politically conservative, with deep empathy for pro-poor policies. He maintains no political affiliation but expresses strong commitment to equity, integrity, and inclusive development.
Previous Chief Economists of Bangladesh Bank
Hassan Zaman (2012–2014)
Served as Chief Economist starting in November 2012. Previously, he was Lead Economist at the World Bank’s Dhaka office and had a PhD from University of Sussex and MSc from LSE .
Biru Paksha Paul (2014–2016)
Appointed after Zaman’s tenure. He worked as an associate professor at SUNY Cortland before joining Bangladesh Bank .
Faisal Ahmed (2017–Jan 2019)
Joined from the IMF, he brought extensive experience in macroeconomic analysis, asset management, and emerging markets advisory.
Md Habibur Rahman (Feb 2022–Feb 2025)
First internal appointee to the role. He was previously Executive Director of the Research Department at Bangladesh Bank and joined the position in February 2022. He moved on to become Deputy Governor in February 2025 .
Conclusion: A Steady Hand for Economic Strategy
Professor Dr. Akhtar Hossain’s return to Bangladesh Bank as its Chief Economist is a homecoming of an economist whose career has spanned continents but remained deeply rooted in his country’s development. His depth of experience, research rigor, and policy wisdom will be instrumental in shaping the central bank’s macroeconomic outlook and policy responses in the coming years.
Bangladesh’s journey toward sustained, inclusive, and innovation-driven growth now has a guiding hand in one of its finest economic minds.